Amazon allegedly scammed out of $370K by 22-year-old's return shipments of dirt

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foxbusiness.com -- A 22-year-old has been arrested in an alleged scam of the largest internet retailer that totaled nearly $370,000 by sending return packages filled with dirt. James Gilbert Kwarteng, of Palma de Mallorca, Spain, allegedly swindled Amazon Opens a New Window. by filling up the ordered items’ boxes with dirt and registering with the exact weight of the product. He would then receive a refund from Amazon and sell the original item, according to El Español Opens a New Window. and El Diario de Mallorca Opens a New Window. . The return packages would end up sitting around in Amazon’s warehouses where they aren’t checked often. The scam wasn’t discovered until through a random search where someone opened a box and discovered it was full of dirt. Amazon’s return policy states items shipped from the website, including Amazon Warehouse, can be returned within 30 days of receipt. Refunds are processed in two business days and customers can expect their funds show in their account in three to five business days. The report states the success of the alleged scam by Kwarteng, who has been released on bail, enabled him to create his own company.

Jeff Bezos just sold $1.8 billion worth of Amazon stock. Here's why

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New York (CNN Business) -- Jeff Bezos has sold more than $1.8 billion worth of stock, as the world's richest person continues to sell his Amazon stake to fund his space venture. The Amazon CEO offloaded roughly 960,000 shares, each worth around $1,900 on Wednesday, according to the company's regulatory filings. Bezos sold the stake after Amazon reported weaker-than-expected profits in its quarterly earnings. Amazon's (AMZN) stock is up 25% for the year. Even with the massive stock dump, Bezos remains the world's richest person, according to Bloomberg Billionaires Index. He's worth $117 billion. Bezos has said he sells roughly $1 billion worth of stock a year to fund his space company, Blue Origin, and he pledged to sell more than $1 billion this year as Blue Origin gets closer to commercial operations.

Bezos has lofty expectations for Blue Origin. He unveiled a new rocket engine and a mockup of a lunar lander to use for shuttle cargo in May. He also said he wants to build giant orbital structures that could host self-sustaining colonies. It's also close to selling tickets to send people to space.

U.S. puts sanctions on Iranian foreign minister Zarif, who says they won't affect him

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WASHINGTON (Reuters) - The United States on Wednesday imposed sanctions on Iranian Foreign Minister Mohammad Javad Zarif, targeting the country’s top spokesman and potentially hurting chances of diplomatic talks amid rising tensions between the two countries. Zarif, a critical figure in the 2015 Iran nuclear deal, dismissed the action and said it would not affect him. U.S. President Donald Trump pulled the United States out of the deal last year and ramped up sanctions to put pressure on Iran’s economy. The move dismantled part of President Barack Obama’s legacy and upset U.S. allies who were party to the agreement, which was designed to restrict Tehran’s pathway to a nuclear bomb in exchange for sanctions relief. Strains between Washington and Tehran have risen more in recent months after attacks on tankers in the Gulf that the United States blames on Iran and Iran’s downing of a U.S. drone that prompted preparations for a U.S. retaliatory air strike that Trump called off at the last minute. “Javad Zarif implements the reckless agenda of Iran’s Supreme Leader, and is the regime’s primary spokesperson around the world. The United States is sending a clear message to the Iranian regime that its recent behavior is completely unacceptable,” Treasury Secretary Steven Mnuchin said in a statement.

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US believes Osama bin Laden's son Hamza is dead

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by cnn.com --By Evan Perez and Ryan Browne -- The US believes late al Qaeda leader Osama bin Laden's son Hamza bin Laden is dead, a US official told CNN on Wednesday. The official said the US had a role in his death but did not provide details. The official added that the US government recently received evidence that it believes corroborates his death. The New York Times reported that Hamza bin Laden had been killed in an operation within the last two years. Earlier this year the US State Department called bin Laden, who is believed to be in his early 30s, an "emerging" leader in the terror group al Qaeda, offering a million-dollar reward for information leading to his capture. The New York Times, citing two US officials, said "the United States government had a role in the operation that killed the younger Mr. bin Laden, but it was not clear precisely what that role was."

When it offered the reward the US government accused the Saudi Arabia-born Hamza bin Laden of seeking to encourage attacks against the US. While The New York Times said the operation that killed him took place prior to the State Department's reward offer, his death had yet to be confirmed by the US government. Hamza bin Laden "has released audio and video messages on the Internet, calling on his followers to launch attacks against the United States and its Western allies, and he has threatened attacks against the United States in revenge for the May 2011 killing of his father by US military forces," the State Department said in its announcement offering the reward.

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'Broken Wings' carry Khalil Gibran home to Lebanon

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by Sam Brennan-- al-monitor.com -- BEIRUT — Speaking about the new musical about the life of legendary Lebanese writer Khalil Gibran, Lebanese-British playwright Nadim Naaman told Al-Monitor, “Lebanon is extremely proud of him and extremely vocal about how he is one of their own. But what they aren’t so good at is looking at him in a new light.” In the musical he co-wrote, "Broken Wings," Naaman wanted to show Middle Eastern audiences "this guy who was critiquing them massively 100 years ago.” The musical, adapted from Gibran’s novella of the same name, made its international debut at the Beiteddine Art Festival July 24-26. The poet, artist, writer and philosopher's work preached love, challenged power and explored humanist themes at the turn of the century. Gibran is currently the third highest-selling poet of all time and a Lebanese national icon.

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Eight months after Ghosn’s exit, Nissan stuck in a rut

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jalopnik.com -- Ma Jie, Bloomberg News -- Nissan Motor Co.’s prospects are getting bleaker by the quarter, with the Japanese automaker forced to shed 12,500 jobs and reduce production capacity by 10% as its aging lineup weighs on profitability amid a global slump in car demand. In the 250 days since the arrest of former Chairman Carlos Ghosn for alleged financial crimes, focus has shifted to the deteriorating business and the ability of Ghosn-protege-turned-accuser Hiroto Saikawa to revive the Yokohama-based company. The chief executive officer more than doubled job cuts and stepped up restructuring measures on Thursday, following a 99% plunge in operating profit for the first fiscal quarter.

A weaker Nissan means less clout for the carmaker in its alliance with Renault SA and Mitsubishi Motors Corp., which was shaken by Ghosn’s arrest as well as Renault’s unsuccessful merger talks with Fiat Chrysler Automobiles NV. Years of sales incentives that eroded Nissan’s margins and expanded fleet sales came at the expense of fresh models that appealed to drivers. To counter that, Nissan needs to work better with Renault, its main partner and 43% owner, according to Janet Lewis, an analyst at Macquarie Capital. “Clearly the issues surrounding the alliance, where much of the investment for future products is focused, is a distraction,” Lewis said. “If they can start working from the same playbook, that would help improve sentiment about future prospects.” Revenue fell 13% in the April-June period to 2.37 trillion yen, the steepest sales drop since the global financial crisis a decade ago. Despite the results, Nissan kept its fiscal full-year outlook for operating profit of 230 billion yen on revenue of 11.3 trillion yen.